Daito Trust Construction Co.,Ltd.
Announcement Regarding the Commencement of Tender Offer for THE GLOBAL Inc. (Securities Code 3271)
Daito Trust Construction Co., Ltd. has commenced a tender offer for THE GLOBAL Inc. shares at 1,280 yen per share. The planned purchase volume is 13,600,924 shares with a total purchase amount of 17,409 million yen. The tender offer period is scheduled from April 7, 2026, to May 22, 2026.
Key Figures
- Tender Offer Price: 1,280 yen (up to approximately 48.49% premium over market price)
- Planned Purchase Volume: 13,600,924 shares (excluding treasury shares and shares held by SBI Holdings)
- Total Purchase Amount: 17,409 million yen
- Tender Offer Period: April 7, 2026 – May 22, 2026 (30 business days)
- Lower Limit of Planned Purchase Volume: 4,165,600 shares
AI要約
Overview of the Tender Offer
Daito Trust Construction Co., Ltd. has commenced a tender offer for all common shares of THE GLOBAL Inc. (excluding treasury shares and shares held by SBI Holdings) at a price of 1,280 yen per share. The planned purchase volume is 13,600,924 shares, amounting to a total purchase price of 17,409 million yen. The tender offer period is 30 business days from April 7, 2026, to May 22, 2026. A lower limit on the purchase volume is set at 4,165,600 shares; if this threshold is not met, the purchase will not be conducted.
Purpose of the Tender Offer and Future Policy
This tender offer aims to make the target a wholly-owned subsidiary and delist it. Following the acquisition, share consolidation and share buyback are planned. By addressing management issues and enhancing corporate value using the capital and business base of the tender offeror group, the plan is to strengthen real estate development capabilities in central urban areas, improve cost efficiency, and stabilize the revenue base. The board of directors of the target company has endorsed this tender offer and recommends shareholders to participate.
Measures to Ensure Fairness
The reasonableness of the tender offer price has been verified based on stock valuation reports issued by independent third-party valuation organizations (SMBC Nikko Securities, KPMG). A special committee has been established to avoid conflicts of interest and ensure fairness. The tender offer period is set at 30 business days, longer than the statutory minimum, and opportunities for competing bids are secured.
Impact on Shareholders and Future Schedule
Upon successful completion of the tender offer, share consolidation and share buyback will be conducted in July 2026, and the target shares are expected to be delisted. The tender offeror will support share buyback through funding. Employment and treatment of the target company’s employees will be maintained in principle. Settlement will begin on May 28, 2026, after the tender offer period ends.
